The acquisition follows several rounds of negotiations, culminating in a transition confirmed by an internal memo from Lingxi CEO Zhou Bingshu. While both Alibaba and the private equity firm Trustar Capital have declined to comment on the specific terms or the timeline of the handover, the sale represents a significant shift in corporate strategy. By divesting from the gaming sector, Alibaba aims to consolidate resources within its primary pillars of growth. This transaction reflects a broader trend of internal restructuring as the company navigates a competitive market landscape and prioritizes its technological future over legacy holdings.
Alibaba Sheds Lingxi Games in $2 Billion Asset Sale
Alibaba Group is offloading its gaming division, Lingxi Games, to Trustar Capital in a transaction valued at over $2 billion. The move marks a pivot for the Chinese tech giant, which continues to strip away non-core assets to sharpen its focus on cloud infrastructure and artificial intelligence development.
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